Stock Market & Financial Investment News

RBS close to Libor settlement. FT saysRoyal Bank of Scotland (RBS) is ready to pay fines of more than GBP500M to U.S. and U.K. authorities to settle Libor manipulation allegations, says the Financial Times, adding that the settlement may come as early as next week. Reference Link

Citizens Financial could return 30%, Barron's says Citizens Financial (CFG), a spinoff from RBS (RBS), could return 30% in the next two years, Barron's contends in a feature article. Shares trade at about a 20% discount to peers, the paper adds. Reference Link

Freddie Mac, Fannie Mae begin legal battle against Nomura, RBS, NY Post saysFreddie Mac (FMCC) and Fannie Mae (FNMA) alleged in court proceedings Monday that they bought "bad" mortgages because they were mislead by banks, reports the New York Post, citing court arguments. Monday was the first day of the lawsuit against Nomura (NMR) and co-defendant Royal Bank of Scotland (RBS) which seeks $1B in damages as well as the ability to return the securities to the banks. Lawyers presented internal bank emails that identified some mortgages as "crap" or from "extremely dysfunctional" lenders, while the banks alleged that they fully disclosed the poor quality of the products. Reference Link